How to reconcile payroll for EOFY

Stop dreading End-Of-Financial-Year admin with these ready to go reports. Powered by foundU's all-in-one workforce management platform.

Single Touch Payroll has become bigger and more complex, but the basic theme is still the same. At End-Of-Financial-Year, you need to reconcile. With foundU this is done through two reports, the STP YTD report and the Advanced Payroll Activity report.   

Both reports are accessed from the Financial Report Centre. Using the groupings and filters as per below will generate the correct data so you can get to work. 

Now, armed with these reports you can go through and reconcile the following: 

  • Gross payments 
  • PAYG withholding 
  • Superannuation 
  • Allowances (part of your gross reconciliation but good practice to check and balance). 

Thanks! Now what do I do if I have discrepancies? 

Well two things you can do straight away is use the STP Line Item report to investigate individual employee discrepancies, as well as use the 'Line Item' grouping in the advanced payroll report to drill down further. 

Handy Hints: 

  • If the total of the Advance Payroll Activity report is higher than the STP YTD report, an STP batch may not have been submitted.    
  • Check the YTD for the employee/s in question. Make any relevant changes required to the payslips to correct, then submit the updated STP packet/s to correct the STP YTD figures.  
  • If you’ve confirmed that the YTD for your employee/s is correct in the Advanced Payroll Activity report, then the amazing team at foundU can assist further. 
  • If the total on the STP YTD report is higher than the Advance Payroll Activity report, additional STP batches may not have been submitted i.e. STP batches generated from edits or adjustments to payslips may have been missed. Just check that the YTD and Office Code for your employee/s is correct in the Advanced Payroll Activity report and contact the awesome team at foundU for further assistance.